scorecardresearchAdani Ports repays ₹1,500 crore to SBI Mutual Fund, Aditya Birla Sun Life

Adani Ports repays 1,500 crore to SBI Mutual Fund, Aditya Birla Sun Life

Updated: 22 Feb 2023, 01:56 PM IST
TL;DR.

The Adani Group firm paid 1,000 crore to SBI Mutual Fund and 500 crore to Aditya Birla Sun Life Mutual Fund on commercial papers that matured on Monday, as scheduled.

FILE PHOTO: The logo of the Adani group is seen on the facade of one of its buildings on the outskirts of Ahmedabad, India, April 13, 2021. REUTERS/Amit Dave/File Photo

FILE PHOTO: The logo of the Adani group is seen on the facade of one of its buildings on the outskirts of Ahmedabad, India, April 13, 2021. REUTERS/Amit Dave/File Photo

(PTI) Adani Ports and Special Economic Zone has repaid 1,500 crore loan and will repay another 1,000 crore in commercial papers due in March.

The Adani Group firm paid 1,000 crore to SBI Mutual Fund and 500 crore to Aditya Birla Sun Life Mutual Fund on commercial papers that matured on Monday, as scheduled.

"This part prepayment is from the existing cash balance and funds generated from the business operations," a company spokesperson said. "This underscores the confidence which the market has placed on the prudent capital and liquidity management plan for the group."

An SBI MF spokesperson said it has no further exposure.

"SBI MF had an exposure of around 1,000 crore to Adani Group, which has been repaid on maturity. We have no further exposure to the Adani Group," the spokesperson said.

First Published: 22 Feb 2023, 01:56 PM IST